Canadian Private Wealth Industry

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Canadian Private Wealth Industry

The number of people in Canada with more than CA$39.79 million is 10,840, of which 49.26% individuals have a net worth in the range of CA$39.79-66.32 million, 50.32% individuals have a net worth in the range of CA$66.32 million-1.33 billion, and 0.41% have a net worth above CA$ 1.33 billion. There was, however, no information on the number of Canadian firms that manage the wealth of people or families that have a net worth of CA$50 million or more. Below is an overview of the information found.

Number of families or people WITH a net worth of CA$50mILLION or more


Segmentation of number of people with net worth (range)


Richest Families/people in Canada


Types of Family offices in Canada


Family OFFICES in Canada


Research Strategy

In order to identify the number of people or families that have a net worth of CA$50 million or more in Canada, we commenced our research by looking for wealth reports published by credible institutions (such as Knight Frank and Wealth X, among others), global and Canadian news sources (such as CTV News, The Guardian, Canadian Business, and many more). Any and all sources reflecting the number of people in a particular range of net worth was derived from global data where the ranges were expressed U.S. dollar. We also found that individuals with a net worth of US$30 million or CA$ 39.79 million were called the "Ultra-High Net Worth Individuals" and bifurcation of wealthy individuals was done as high net worth individuals (HNWI), ultra-high net worth individuals, and billionaires in all credible sources. Therefore, due to the absence of data on individuals with a net worth of CA$50 million and above, we have considered the most representative set in this range those individual with a net worth of CA$ 39.79 million and above (the ultra-high net worth individuals) as the most pertinent set of people that fall within the specified wealth limits.

In order to identify the number of Canadian firms that manage the wealth of people or families that have a net worth of CA$50 million or more and what percentage of people/families with specified wealth limit are managed by these family offices or multi-family offices, we commenced with reviewing wealth reports by credible institutions (such as World Wealth Report, Wealth X, Knight Frank, and many others) and market reports (such as those published by Deloitte, EY Wealth Management, RBS, PWC, and others). All of these reports only focused on the number of millionaires, HNWI, Ultra HNWI, and billionaires in different geographies; their asset allocation; demographics; and other similar content. None of the reports provided information pertaining to family offices or the type of office that manages their wealth.

Statistics Canada is the national statistical office of Canada. The agency ensures Canadians have key information on Canada's economy, society, and environment. We thoroughly scoured through all the data, press releases, white papers, annual reports, and other resources pertaining to wealth on the website. While there was abundant information available pertaining to the net worth by age and family type, balance sheet, financial flow accounts, and the demographics of high-income Canadians, relevant data pertinent to this request was not found. Statistics Canada does not provide information on how wealth is managed by people within certain wealth brackets.
Next, we searched for articles, studies, surveys and journals pertaining to wealth management on global and local news and media sources (such as CTV News, The Guardian, Canadian Business, The Globe and Mail, CBC, Casual Money Talk, Global News, Business Financial Post, and many others). Any and all information found in these sources seemed to be redundant and derived from the previously scoured sources. No additional information was found.

Last, we searched through press releases, company websites, annual/investor reports, investment blogs of popular Canadian family offices (such as SeaFort Capital, Atraxis Holdings Inc., Serruya Private Equity, and others). While these resources provided insights into the importance of family offices and their individual competencies no information pertaining to the subject matter was found or could be derived from the found information.

After conducting an exhaustive research, we can conclude that while various studies have been conducted to identify the number of Canadian people or families with specified wealth limits, no studies have been conducted that provide information on what kind of offices this group uses to manage their wealth and how many family offices in Canada manage the wealth of this group.



Sources
Sources

Quotes
  • "According to research firm Wealth X, Canada had around 10,840 residents worth $30 million or more including their investable assets in 2017."
Quotes
  • "There are now three types of family offices: the SFO (single family office) consisting of one or more professionals dedicated to managing one particular family’s investments; the MFO (multi-family office), an independent firm specializing in managing several family office funds, and, the sovereign/royal family offices which are large organizations."